Market Research Reports, Business Consulting Services & Analytics

Vehicle Tracking System Market Trends Drivers Growing Use of Fleet Management Solutions

HYDERABAD, TELANGANA, INDIA, January 12, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Vehicle Tracking System Market size is forecast to surpass $14.6 billion by 2025 growing at CAGR 14% during 2020-2025 owing to the growing demand for the live tracking for transit and passenger transportation services globally. Apart from this, the increase in adoption of fleet management in the e-retail space to enhance customer experience by availing real time package tracking to assist the market growth during the forecast period. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Click here to browse the complete report summary:
https://www.industryarc.com/Research/Vehicle-Tracking-System-Market-Research-502030

Key takeaways:

1. Active vehicle tracking system to dominate the market as well as grow at the highest rate during 2020-2025 owing to the increasing preference to live mobile vehicle tracking.

2. Passenger vehicle acquired the major share of the vehicle tracking system market owing to the adoption of usage based insurance and growing passenger transport fleet operators

3. Retail vehicle tracking system market segment to witness the highest growth during 2020-2025 due to the increase in the influx of e-retail companies in the market space.

4. APAC to witness the highest growth during the forecast period due to the rise of ride sharing and rental rides companies in the emerging economies.

Interested in knowing more relevant information? Click here:
https://www.industryarc.com/pdfdownload.php?id=502030

Segmental Analysis:

1. Active vehicle tracking system market held the majority of the share in 2019 and is also estimated to grow at the highest rate during 2020-2025 owing to the increase in demand for passenger ride services for office commutation and general commutation with mobile based live tracking of the vehicles.

2. The passenger vehicle tracking system market held the major share of the market in 2019 owing to the broad based of fleet operators in developed economies and rapid increase of the same in emerging economies.

3. Retail vehicle tracking market is set to witness the highest growth of CAGR 16% during 2020-2025 owing to the rapid increase in the entry of companies in the e-retail sector. Since these offer live package tracking of the deliveries, the demand for vehicle tracking systems is also set to grow as these systems will be incorporated by the in-city logistics fleet.

4. North America acquired the significant share of 40% of the global vehicle tracking system market in 2019 owing to the major users of fleet management for commercial vehicles in the transportation and logistics vertical.

Competitive Landscape:

The top 5 players in the Vehicle Tracking System industry are -

1. Continental Ag

2. Delphi Automotive

3. Magna International Inc

4. Robert Bosch Gmbh

5. ATrack Technology Inc

Click on the following link to buy the Vehicle Tracking System Market Report:
https://www.industryarc.com/reports/request-quote?id=502030

Why Choose IndustryARC?

IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.

Related Reports:

A. IoT Fleet Management Market
https://www.industryarc.com/Research/Iot-Fleet-Management-Market-Research-501108

B. Telematics Solution Market
https://www.industryarc.com/Research/Telematics-Solutions-Market-Research-501126

Contact Us:
Mr. Venkat Reddy
IndustryARC
Email: venkat@industryarc.com, sales@industryarc.com
USA: (+1) 970-236-3677, (+1) 815-656-4596
IND: (+91) 40-485-49062

Venkat Reddy
IndustryARC
+1 614-588-8538
venkat@industryarc.com
Visit us on social media:
Facebook
Twitter
LinkedIn
Instagram
YouTube

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.